Divorced taxpayers with children that fail to include an executed Form 8332 with their tax return will lose the exemption for that particular tax year. Form 8332 (Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent) allows…
For individuals with delinquent tax debt, thoughts of IRS contact may haunt their daily thoughts. IRS operatives may be lurking, waiting, ready to move in and assert their authority. At least this has often been the public perception, albeit somewhat…
Taxpayers that qualify may take advantage of the federal “Offer in Compromise” program to resolve and settle their tax problems. The Offer in Compromise (“OIC”) program is not for every taxpayer and the IRS advises that taxpayers explore all other…